Bob Bakish Is No Longer Paramount CEO And Will Be Replaced By A Trio Of Executives

TV & Film

May 2

Bob Bakish has officially stepped down from his CEO position at Paramount Global. This news comes as the company continues to negotiate with potential buyers, stirring the conversation. Ties with Bakish won’t be immediately cut in a total capacity. He will reportedly stay on as a “senior advisor” through October 31, 2024.

Paramount will be going forward with a trio of executives running the company rather than a singular CEO. George Cheeks, Brian Robbins, and Chris McCarthy will be picking up the day-to-day reins of the media company; each individual has had a detailed career in show business. Cheeks is the CEO and president of CBS, Robbins is the CEO and president of Paramount Pictures and Nickelodeon, and McCarthy is CEO and president of Showtime/MTV Entertainment Studios and Paramount Media Networks.

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During Paramount’s recent first-quarter earnings call, members of the trio spoke up about the upcoming changes and what the future holds. McCarthy explained, “It’s a true partnership. We have a deep respect for one another and we’re going to lead and manage this company together.”

He continued, explaining the basics of the trio’s approach to the company, “On that note, we’re finalizing a long-term strategic plan to best position this storied company to reach new and greater heights in our rapidly changing world. The plan is focused on three pillars: First, make the most of our hit content; second, strengthen our balance sheet; and third, optimize our streaming strategy.” Robbins implied a short time frame before we see some sort of action, stating, “We look forward to coming back to you in short order to share our plan and discussing it all in detail at that time.”

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Source(s): THR, Variety

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